Tender inflation - Revision history

Designing Buildings at 08:33, 8 December 2021

2021-12-08T08:33:16Z

← Older revision		Revision as of 08:33, 8 December 2021
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−	The New Rules of Measurement (NRM) are published by the Royal ~~Institute~~ of Chartered Surveyors (RICS). They provide a standard set of measurement rules for estimating, cost planning, procurement and whole-life costing for construction projects.	+	The New Rules of Measurement (NRM) are published by the Royal Institution of Chartered Surveyors (RICS). They provide a standard set of measurement rules for estimating, cost planning, procurement and whole-life costing for construction projects.

	According to NRM1: Order of cost estimating and cost planning for capital building work, the term ‘tender inflation’ refers to:		According to NRM1: Order of cost estimating and cost planning for capital building work, the term ‘tender inflation’ refers to:
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	'…an allowance included in the order of cost estimate or cost plan for fluctuations in the basic prices of labour, plant and equipment, and materials during the period from the date of tender return to the mid-point of the construction period. See also the definition for tender inflation.'		'…an allowance included in the order of cost estimate or cost plan for fluctuations in the basic prices of labour, plant and equipment, and materials during the period from the date of tender return to the mid-point of the construction period. See also the definition for tender inflation.'

−	= Related articles on Designing Buildings ~~Wiki~~ =	+	= Related articles on Designing Buildings =

	* Base date.		* Base date.

Designing Buildings at 08:40, 1 December 2020

2020-12-01T08:40:21Z

← Older revision		Revision as of 08:40, 1 December 2020
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	'…an allowance included in the order of cost estimate or cost plan for fluctuations in the basic prices of labour, plant and equipment, and materials during the period from the date of tender return to the mid-point of the construction period. See also the definition for tender inflation.'		'…an allowance included in the order of cost estimate or cost plan for fluctuations in the basic prices of labour, plant and equipment, and materials during the period from the date of tender return to the mid-point of the construction period. See also the definition for tender inflation.'

−	~~= Find out more =~~	+	= Related articles on Designing Buildings Wiki =
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−	=== Related articles on Designing Buildings Wiki ===	+

	* Base date.		* Base date.
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	* Order of cost estimate.		* Order of cost estimate.

−	[[Category:Cost_/_business_planning]]	+	[[Category:DCN_Definition]] [[Category:Definitions]] [[Category:Cost_/_business_planning]]

Designing Buildings: Created page with "The New Rules of Measurement (NRM) are published by the Royal Institute of Chartered Surveyors (RICS). They provide a standard set of measurement rules for estimating, cost plann..."

2018-03-30T10:01:25Z

Created page with "The New Rules of Measurement (NRM) are published by the Royal Institute of Chartered Surveyors (RICS). They provide a standard set of measurement rules for estimating, cost plann..."

New page

The New Rules of Measurement (NRM) are published by the Royal Institute of Chartered Surveyors (RICS). They provide a standard set of measurement rules for estimating, cost planning, procurement and whole-life costing for construction projects.

According to NRM1: Order of cost estimating and cost planning for capital building work, the term ‘tender inflation’ refers to:

'…an allowance included in the order of cost estimate or cost plan for fluctuations in the basic prices of labour, plant and equipment, and materials during the period from the estimate base date to the date of tender return.'

This is as opposed to construction inflation, which is:

'…an allowance included in the order of cost estimate or cost plan for fluctuations in the basic prices of labour, plant and equipment, and materials during the period from the date of tender return to the mid-point of the construction period. See also the definition for tender inflation.'

= Find out more =

=== Related articles on Designing Buildings Wiki ===

* Base date.
* Construction inflation.
* Cost estimate.
* Cost plan.
* Elemental cost plan.
* Fluctuations.
* Initial cost appraisals.
* NRM1.
* Order of cost estimate.

[[Category:Cost_/_business_planning]]